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UK Prime Minister Liz Truss faces serious pressure to resign after failed budget

World,Liz Truss,United Kingdom

From the Left

U.K. Prime Minister Liz Truss is facing calls to resign from within her own Conservative Party just six weeks after entering Downing Street.

Truss and her former Finance Minister Kwasi Kwarteng announced a fiscal package – a so-called mini-budget â€“ on Sept. 23. The measures triggered market turmoil, from a plunging pound to pension panic, and a rare public rebuke by the International Monetary Fund.

Piece by piece, the plans have been tweaked and trashed – including reversing plans to scrap an increase in the corporation tax, axing plans to abolish the top income tax bracket, and shortening the energy guarantee, designed to subsidize consumer and business energy bills, from two years to just six months.

The latest plans were announced Monday by Jeremy Hunt, just three days into his tenure as finance minister. He’s the fourth person to fill the position since July.

Truss sacked Hunt’s predecessor on Friday, and now lawmakers from across the political spectrum are calling for her to follow him out the door.

Elected members of Truss’ own party are openly calling for her to quit, while up to 100 members of the party are believed to have submitted letters of no confidence in the prime minister, according to reports by the i newspaper.

 

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